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Renusdt

RENUSDT (REN) - BULLISH SETUP ANALYSIS 🔎 - RENUSDT hit a swing high and retraced. - Price is retesting the flip horizontal support (FHS) and the key fibonacci retracement zone (0.5 - 0.618 - 0.786). - There's a relatively high concentration of buyers at this zone (high buying pressure). - The retracement was bounded in the falling wedge (FW) pattern. - The falling wedge pattern is a bullish reversal pattern. - Price brokeout above the falling wedge's resistance as expected. - Price action is printing the inversed head and shoulders (IH&S) pattern. - The inverse head and shoulders pattern is a bullish reversal pattern. - We could be at the verge of an uptrend continuation. BUY ENTRY ⬆️ - Conservative entry : breakout above the inverse head and shoulders neckline resistance (NR) / (R1). - Aggressive entry : market price. TARGETS - Horizontal resistance level (R2). - Horizontal resistance level (R3) / swing high. - Fibonacci extension levels. SETUP INVALIDATION ❌ - Breakdown below the right shoulder's horizontal suppor level (S1).
Long
by Chibuike_Odoh
REN pullback?There are big possibilities we could see some pullback here due to RSI on 4 hour and below already on overbought area. RSI on lower TF also make bearish divergence. Big support around 0.9 cent and 0.8 cent area. This could a great place to long. Daily RSI also trying to make a pullback and on healthy level . We will see some pump if BTC going sideway or dint dump. But there are possibilities we could go lower due to volatility of BTC . If BTC crash from here, we could see REN will follow to dump.
Long
by crash123